Top

Lease Accounting Software   

RAM’s lease accounting software provides better visibility of lease exposure and improves lease management while assisting in compliance with the new FASB and IASB regulations taking effect in 2019. The software enables the reporting of leases on the balance sheet—a key requirement of FAS 13 (ASC 842) and IFRS 16.

RAM’s Lease Accounting Software will help you to:

orb thumbs up green

Comply with FAS 13 (ASC 842) and IFRS 16 lease accounting rules

 
orb depreciation pink

Generate a Schedule of Payments automatically

 
Increse maintenance proodcutivity

Adjust re-negotiated leases easily with access to a full audit trail

 
orb correct

Automate the rescheduling & termination of leases

 
housing icon 3

Access short and long-term obligations statements at the click of a button

 
orb cyclical pink

Benefit from a fully-automated process of apportioning lease payments

 



ASC 842 IFRS 16 Fact Sheet

ASC 842 & IFRS 16 Fact Sheet

New ASC 842 and IFRS 16 leasing standards explained.

FREE Fact sheet


Lease Accounting Features

  • Full leasing details, including lease codes, accrual dates, descriptions and related asset codes can be added, viewed or maintained quickly and easily.
  • User-definable payment plans can support every type of lease arrangement.
  • Leases can be rescheduled simply to extend or reduce lease length or amend payment terms.
  • Supports multiple interest calculation methods, including Equal, Actuarial and Sum-of-Digits (Rule of 78) or user defined.
  • Operating and finance leases can be configured for monthly, quarterly, biannual or annual payment/income.
  • Integrated with asset history, depreciation, amortization and fixed asset register.



Impose Control

  • Utilize in-depth lease accounting to understand corporate exposure and comply with FAS 13 and the upcoming ASC 842 and IFRS 16 regulations.
  • Use Business Activity Monitoring to issue automatic email notifications and report alerts for key events including lease break clauses, expiry dates or auto-renewals.
  • Set up lease payment plans to specify individual payment types and flag up payment paid in advance or in arrears.
  • Manage the payment schedules associated with all operating and finance leases, splitting out both the interest and capital elements of the repayment.



Reporting and Forecasting

  • Comprehensive reporting provides detailed analysis of all repayment and interest expenditure, historical and future.
  • Suite of standard reports including obligations analysis, commitments analysis, and finance lease schedules.
  • Create user-definable reports for any range of past, current, and future accounting periods and include locations, type, supplier, and department.
  • Restrict reports to display only those records with accrual dates within specified time periods.
  • Ability to sort, sequence, and filter reports by any use-defined fields.
  • Create statutory year-end return as standard with year-end reports, breaking down the outstanding obligations by payments due next year, years 2–5, and year 5+.



Compliance with Corporate Governance

  • Supports the Financial Accounting Standards Board FAS 13, including ASC 842 (effective from January 1st, 2019).
  • Supports Accounting Standards Committee SSAP21 and the International Accounting Standards Board IAS 17 and IFRS 16 (effective from January 1st, 2019).